Crispr Therapeutics shares tumble after significant earnings miss
Westinghouse Air Brake Technologies (NYSE:WAB), known as WAB, has reached an impressive milestone, soaring to an all-time high of $210. With a market capitalization of $36 billion and a perfect Piotroski Score of 9 according to InvestingPro, this peak represents a significant achievement for the company, reflecting a robust performance over the past year. Investors have witnessed a remarkable 56.63% return over the past twelve months, supported by solid revenue growth of 9.23% and an overall "GREAT" financial health rating. The all-time high serves as a testament to WAB’s strategic initiatives and operational excellence, which have evidently resonated well with the market. With 12 additional InvestingPro Tips available and the company’s next earnings report due February 12, investors seeking deeper insights can access the comprehensive Pro Research Report covering what really matters about WAB’s performance and valuation.
In other recent news, Wabtec Corporation secured a $248 million locomotive deal with Winning Consortium Simandou for an iron ore project in Guinea, marking one of the company’s largest international agreements in the past five years. The company also made strategic moves with the acquisition of the Inspection Technologies division of Olympus Corp. (TYO:7733), which is expected to significantly contribute to revenue and EBITDA margins. Following this acquisition, BofA Securities raised the price target for Wabtec and reiterated a buy rating on the stock.
In financial developments, Wabtec reported a 4.5% sales increase to $2.7 billion in the third quarter compared to the same period last year, with an approximately 18% year-over-year increase in adjusted earnings per share, reaching $2.00. The company also expanded its stock repurchase program by an additional $1 billion, reflecting its broader effort to manage capital allocation and shareholder value.
Lastly, Wabtec announced the appointment of Juan Perez to its Board of Directors, marking a continuation of its governance and oversight enhancements. These are some of the recent developments that have contributed to the company’s ongoing growth and strategic positioning.
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